Home BUSINESS Astra space company ASTR will start trading on the Nasdaq

Astra space company ASTR will start trading on the Nasdaq

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A close-up view of the rocket 3.2 engines shortly after takeoff.

Astra / Jon Kraus

Rocket maker Astra Space shares began trading on the Nasdaq on Wednesday as it became the last space company to go public after closing the SPAC deal.

Astra trading is conducted under the ASTR brand, the shares were previously included in the list of Holicity private purchase company.

“Now we have a space company that invests in all of space,” Astra CEO Chris Kemp told Acesparks. “The same things you do to make a rocket great are the behaviors you have to invest in to make a good company. You don’t want any inefficiency.”

In early trading, the stock fell 4 percent to $ 12.35.

Holicity Networks plans to close its merger with Astra to generate $ 500 million in new capital, which the company will use to develop its small rocket production, expand its capacity in Alameda, California, and develop spacecraft and spaceport business lines. is planning. Astra’s goal is to launch as many 40-foot-high missiles as possible, launching one rocket a day by 2025, and lowering its $ 2.5 million cost even further.

Cooking company

Rocket 3.2 was launched from the Kodiak in Alaska.

Astra / Jon Kraus

The company’s last launch in December reached space, but the Rocket 3.2 car got a little into orbit. However, the mission reassured Astra management that its next launch could lift Rocket 3.3 paid customers. Kemp said Rocket 3.3 is currently being tested, and the company is on track to begin its mission “this summer.”

Astra plans to produce dozens of Rocket 3 series cars, the next few of which are currently in production.

“We’re starting to take these things off the production line every month,” Kemp said. “Our goal is to reach the monthly cadence by the end of the year, and then just ramp from there. We plan to have 15 launches by 2022.”

Astra is currently flying from Kodiak, Alaska, but the company has identified more spaceports to fly around the world. With a system that requires multiple people to run, Kemp said Astra doesn’t want to be “locked in one place”.

Competition

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